Form 8-K - Current report

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

 

Date of Report (Date of earliest event reported): December 20, 2024

 

Alamo Group Inc.

(Exact name of registrant as specified in its charter)

 

State of Delaware			0-21220			74-1621248
(State or other jurisdiction of incorporation)			(Commission File No.)			(IRS Employer Identification No.)

  

1627 E. Walnut, Seguin, Texas						78155
(Address of Registrant’s principal executive offices)						(Zip Code)

			[phone]
Registrant's telephone number, including area code:
Securities registered pursuant to Section 12(b) of the Act:
Title of each class			Trading symbol(s)			Name of each exchange on which registered
Common Stock, par value $.10 per share			ALG			New York Stock Exchange

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) 

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) 

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) 

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of

the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of

1934 (§240.12b-2 of this chapter).Emerging growth company ☐ 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the

extended transition period for complying with any new or revised financial accounting standards provided

pursuant to Section 13(a) of the Exchange Act. ☐ 

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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On December 20, 2024, Jeffery A. Leonard, President and Chief Executive Officer of Alamo Group Inc. (the "Company") and a member of the Company’s Board of Directors (the “Board”) notified the Board of his intention to retire as President and CEO by mid-year 2025 and upon the appointment of his successor. Mr. Leonard’s intention to retire as President and CEO is due to personal reasons and is not a result of any disagreement with the Company.

A copy of the press release regarding Mr. Leonard's retirement is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference into this Item 5.02.

Item 9.01    Financial Statements and Exhibits

Exhibit 99.1 - Press Release dated December 20, 2024.

Exhibit 104 - Cover Page Interactive Data File - Inline XBRL for the cover page of this Current Report on Form 8-K

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SIGNATURES

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

December 20, 2024			By:  /s/ Edward T. Rizzuti
			Edward T. Rizzuti,
			Chief Legal Officer & Secretary

			For:			Alamo Group Inc.
			Contact:			Agnes Kamps
						Executive Vice President & CFO
						830-372-9620
						Financial Relations Board
						Joe Calabrese
						212-827-3772

ALAMO GROUP INC. ANNOUNCES CEO RETIREMENT PLAN

SEGUIN, Texas, December 20, 2024 -- Alamo Group Inc. (NYSE: ALG) announced today that Jeff Leonard, the Company’s President and CEO, has informed the Board of Directors of his intention to retire preferably by mid-year 2025 and upon the appointment of his successor. As part of its succession planning efforts, the Company’s Board of Directors has been preparing for such a transition and anticipates naming a new President and CEO as Mr. Leonard’s replacement within the next several months.

In announcing his retirement, Mr. Leonard stated, “It has been an honor being part of Alamo Group since 2011 and serving as Alamo Group’s President and CEO for the last several years. I have watched the Company experience tremendous growth and am confident that it will continue to grow. I am also confident in the leadership in place and that the Board’s succession process will place a strong leader as my successor in the President and CEO role.”

On behalf of the Board of Directors, Rick Parod, the Board’s Independent Chair, said, “We would like to thank Jeff for his leadership and service as President and CEO, and for his significant involvement in the growth of the Company during his more than 13 years of service. Jeff has been instrumental in continuing the success of Alamo Group and its reputation as a financially sound and operationally strong company. We wish him the best in his retirement. The Board has given careful consideration to succession planning and we are confident that our planning will result in a successful leadership transition.”

About Alamo Group

Alamo Group is a leader in the design, manufacture, distribution, and service of high-quality equipment for vegetation management, infrastructure maintenance and other applications. Our products include truck and tractor mounted mowing and other vegetation maintenance equipment, street sweepers, snow removal equipment, excavators, vacuum trucks, other industrial equipment, agricultural implements, forestry equipment and related after-market parts and services. The Company, founded in 1969, has

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approximately 4,000 employees and operates 28 plants in North America, Europe, Australia, and Brazil as of September 30, 2024. The corporate offices of Alamo Group Inc. are located in Seguin, Texas.

Forward Looking Statements

This release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company’s actual results in future periods to differ materially from forecasted results. Among those factors which could cause actual results to differ materially are the following: adverse economic conditions which could lead to a reduction in overall market demand, supply chain disruptions, labor constraints, increasing costs due to inflation, disease outbreaks, geopolitical risks, including effects of the war in the Ukraine and the Middle East, competition, weather, seasonality, currency-related issues, and other risk factors listed from time to time in the Company’s SEC reports. The Company does not undertake any obligation to update the information contained herein, which speaks only as of this date.

Cover	Dec. 20, 2024
Cover [Abstract]
Document Type	8-K
Document Period End Date	Dec. 20, 2024
Entity Registrant Name	Alamo Group Inc.
Entity Incorporation, State or Country Code	DE
Entity File Number	0-21220
Entity Tax Identification Number	74-1621248
Entity Address, Address Line One	1627 E. Walnut
Entity Address, City or Town	Seguin
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	78155
City Area Code	830
Local Phone Number	379-1480
Title of 12(b) Security	Common Stock, par value$.10 per share
Trading Symbol	ALG
Security Exchange Name	NYSE
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Amendment Flag	false
Entity Central Index Key	0000897077

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